Syllabus Principles of Accounting I BAN213/ACCT2003 (U of A On-Line) Fall 2016 Course Name: Principles of Accounting I Course Number: BAN 213 (ACTS #2003) Academic Year: Fall 2016 Prerequisites: BAN 103 or departmental approval INSTRUCTOR Instructor: Mrs. Martha Brothers Office Location: C114 Office Phone#: (870)673-4201 EX 1834 Credit Hours: 3 hrs. 3 credits Revision Date: FALL 2016 Email mbrothers@pccua.edu Office Hours: Posted C114 Address: Text: Accounting, 26th edition. Warren, Reeve, Duchac. South-Western/Cengage Learning Materials Required: Bundle: Accounting, 26th + CengageNOWv2, 2 terms (12 months) Printed Access Card ISBN: 9781305617063 This bundle includes: 1. Loose-leaf edition of Warren s Accounting 26th edition 2. Access Code to CengageNOWv2 (2 terms (12 months) Please check with your college campus bookstore concerning the purchase of your textbook. There may be different policies on each campus. Class will begin on August 23 so it is imperative that you have your book so that you do not get behind In addition, you will need: Computer with Internet Access Calculator Revised August, 2016 Page 1
Students for whom this course is intended: Principles of Accounting I is required for students seeking an Associate of Applied Science degree in Business Management, Computer Technology (Information Systems Technology,) or Office Technology. It is also required for students seeking an Associate of Arts degree in Business Administration. This course provides the student with a background of the basic accounting functions for service and merchandising enterprises. Catalog Description: BAN 213/ACCT 2003 (Principles of Accounting I) BAN 213 Principles of Accounting I (3 hrs. lec. 3 credits) ACTS Equivalent Course Number = ACCT 2003 Prerequisite: BAN 103 or departmental approval. Introduction to financial accounting principles and problems as they apply to service and merchandising businesses. Emphasis will be placed on the accounting equation and the accounting cycle to include analysis of business transactions, internal control, and preparation of financial statements to be used by business stockholders. Course Requirements: Computer Equipment and Software Student must have access to the Internet and World Wide Web. Pop-Up blockers must be turned off while working in Blackboard. Minimum required computer configuration: PC with Pentium II processor or better, 128 RAM (minimum). DSL or Cable connection preferred dial-up 56K modem acceptable, but very slow Internet connection. Course Objectives: Upon completion of Principles of Accounting I, the student should be competent in the following subjects: 1. The accounting equation 2. Financial statements 3. T accounts and basic business transactions 4. Income and adjusting entries 5. The accounting worksheet 6. Inventory systems 7. Special journals 8. Internal control 9. Short-term assets 10. Inventory systems 11. Long-term assets 12. Current liabilities Learning Objectives: Revised August, 2016 Page 2
After students have completed activities and exercises assigned for each chapter, they should be able to: CHAPTER 1 - OBJECTIVES Introduction to Accounting and Business 1. Describe the nature of a business and role of ethics and accounting in business. 2. Summarize the development of accounting principles and relate them to practice. 3. State the accounting equation and define each element of the equation. 4. Describe and illustrate how business transactions can be recorded in terms of the resulting change in the elements of the accounting equation. 5. Describe the financial statements of a proprietorship and explain how they interrelate. 6. Describe and illustrate the use of the ratio of liabilities to owner s equity in evaluating a company s financial condition. CHAPTER 2 OBJECTIVES Analyzing Transactions 1. Describe the characteristics of an account and a chart of accounts. 2. Describe and illustrate journalizing transactions using the double-entry accounting system. 3. Describe and illustrate the journalizing and posting of transactions to accounts. 4. Prepare an unadjusted trial balance and explain how it can be used to discover errors. 5. Describe and illustrate the use of horizontal analysis in evaluating a company s performance and financial condition. CHAPTER 3 OBJECTIVES The Adjusting Process 1. Describe the nature of the adjusting process. 2. Journalize entries for accounts requiring adjustment. 3. Summarize the adjustment process. 4. Prepare an adjusted trial balance. 5. Describe and illustrate the use of vertical analysis in evaluating a company s performance and financial condition. CHAPTER 4 OBJECTIVES Completing the Accounting Cycle 1. Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. 2. Prepare financial statements from adjusted account balances. 3. Prepare closing entries. 4. Describe the accounting cycle. 5. Illustrate the accounting cycle for one period. 6. Explain what is meant by the fiscal year and the natural business year. 7. Describe and illustrate the use of working capital and the current ratio in evaluating a company s financial condition. Revised August, 2016 Page 3
CHAPTER 5 OBJECTIVES Accounting Systems 1. Define and describe an accounting system. 2. Journalize and post transactions in a manual accounting system that uses subsidiary ledgers and special journals. 3. Describe and illustrate the use of a computerized accounting system. 4. Describe the basic features of e-commerce. 5. Use segment analysis in evaluating the operating performance of a company. CHAPTER 6 OBJECTIVES Accounting for Merchandising Businesses 1. Distinguish the activities and financial statements of service and merchandising businesses. 2. Describe and illustrate the financial statements of a merchandising business. 3. Describe and illustrate the financial statements of a merchandising business. 4. Describe the adjusting and closing process for a merchandising business. 5. Describe and illustrate the use of the ratio of sales to assets in evaluating a company s operating performance. CHAPTER 7 - OBJECTIVES Inventories 1. Describe the importance of control over inventory. 2. Describe three inventory cost flow assumptions and how they impact the income statement and balance sheet. 3. Determine the cost of inventory under the perpetual inventory system, using the FIFO, LIFO, and average cost methods. 4. Determine the cost of inventory under the periodic inventory system, using the FIFO, LIFO, and average cost methods. 5. Compare and contrast the use of the three inventory costing methods. 6. Describe and illustrate the reporting of merchandise inventory in the financial statements. 7. Describe and illustrate the inventory turnover and the number of days sales in inventory in analyzing the efficiency and effectiveness of inventory management. ACADEMIC INTEGRITY: Cheating Policy Students are expected to uphold the school s standard of conduct relating to academic honesty. Students assume full responsibility for the content and integrity of the academic work they submit. The guiding principle of academic integrity shall be that a student s submitted work, examinations, reports, and projects must be that of the student s own work. Students shall be guilty of violating the honor code if they: 1. Represent the work of others as their own. 2. Use or obtain unauthorized assistance in any academic work. 3. Give unauthorized assistance to other students. Revised August, 2016 Page 4
4. Modify, without instructor approval, an examination, paper, record, or report for the purpose of obtaining additional credit. 5. Misrepresent the content of submitted work. Administrative Procedure Number: 404.05 Cheating in any form (including using unauthorized materials, information, or study aids in any academic exercise; plagiarism; falsification of records; unauthorized possession of examinations; any and all other actions that may improperly affect the evaluation of a student's academic performance or achievement; and assisting others in any such act) is forbidden. An instructor who has proof that a student is guilty of cheating may take appropriate action up to and including assigning the student a grade of "F" for the course and suspending the student from class. A description of the incident and the action taken will be reported through the dean to the Vice Chancellor for Instruction and placed in the student's file in the Office of Admissions and Records. The student may appeal either the finding of cheating or the penalty, or both, as described in Administrative Procedure No. 404.06, Academic Appeal Procedure. Cheating in this class: Cheating will not be tolerated. If you are cheating on one occasion, you will receive an F for the whole project s work (not limited to that one assignment). If found cheating on a second occasion, you will be asked to drop the class. If the cheating occurs after the drop date, or if you choose not to drop, you will receive an F for this class. CAMPUS SUPPORT SERVICES: Phillips Community College of the University of Arkansas provides student support services that assist students in achieving their educational objective. Those services include advising, financial aid, counseling and guidance, and safety and security. ADA POLICY: Scott Post is the Vice Chancellor for Student Services and serves as the ADA Compliance Officer. As an open enrollment college, PCCUA strives to meet the needs of students with self-disclosed disabilities who wish to advance their education. A student with a disability must meet with the campus Disabilities Coordinator to obtain reasonable accommodations. Students who have met with the Coordinator are more likely to experience success in a positive learning environment. If you have a disability please contact the Student Disabilities Coordinator for your campus. DeWitt-Phyllis Fullerton (870) 946-3506 ext. 1610 Helena-George White (870) 338-6474 ext. 1135 Stuttgart-Sylvia Boyd (870) 673-4201 ext. 1809 The process of student referral under the Americans with Disabilities Act can be found in the Student Handbook. FERPA POLICY: Revised August, 2016 Page 5
Phillips Community College of the University of Arkansas complies with the Family Educational Rights and Privacy Act (FERPA) of 1974. A student has the right to inspect and review all of his/her records that meet the definition of educational records. No third party has the right to review student records. Directory information can be provided unless the student request that it be withheld. INSURANCE: Phillips Community College of the University of Arkansas does not provide insurance for its students. The college does encourage each student to secure his/her own insurance, and for that reason, the college has contacted United Healthcare Student Resources. Forms for this insurance are available in the Registrar's office. ARKANSAS COURSE TRANSFER SYSTEM: (ACTS) The Arkansas Course Transfer System (ACTS) contains information about the transferability of course within Arkansas Public Colleges and Universities. Students are guaranteed the transfer of applicable credits and the equitable treatment in the application of credits for the admission and degree requirements. Course transferability is not guaranteed for courses listed in ACTS as "No Comparable Course." Additionally, courses with a "D" frequently do not transfer and institutional policies may vary. ACTS may be accessed on the Internet by going to the ADHE website and selecting Course Transfer. www.adhe.edu ASSIGNMENTS AND GRADING This course emphasizes learning through doing. It is imperative that you read the text carefully, do the assigned homework. Assignments often build on previous assignments. If you do half-hearted work in Chapter 1, you may have difficulty in Chapter 2, and be lost in Chapter 3. Tutoring may be available for students who desire additional help. PCCUA Core Competencies All students receiving an Associate s Degree from PCCUA will possess the following five core competencies (STACC): 1. Social and Civic Responsibility: Behavior demonstrates adherence to legal/ethical standards established by society. 2. Technology Utilization: Use tools of the trade to achieve a specific outcome. 3. Analytical & Critical Thinking: Modes of reasoning including analyzing data, evaluating alternatives, setting priorities, and predicating outcomes. 4. Communication: The interactive process through which there is an exchange of verbal and/or nonverbal information. 5. Cultural Awareness: Acknowledgement that society is diverse with groups of individuals possessing differing beliefs, values, attitudes, and customs that are shared from one generation to the next. GRADING Revised August, 2016 Page 6
As an on-line student, you will not be receiving the traditional lecture. CengageNow2 supplies you with an e-lecture on each chapter. You will also be able to access exercise demos, illustrative problems video cases, various tests and quizzes, and games. Grading will be based on the following assessments: Tests: Tests will be administered after each chapter for the period specified. Be sure to mark your calendars for test dates as make-up tests will not be available. Final Exam: Proctored Exam Student will make arrangements with the 25% designated proctor for online testing on their home campus. No textbooks or notes will be allowed during the exam. The instructor will supply a study guide in order to guide students in preparing for this exam. Timed Exams: The timed exam on each chapter can be done on a home computer at the student s convenience. The time exam must be completed in the given time period (example-30 minutes) and will be available for only a specified length of time. The tests will consist of OBJECTIVE TESTS in Blackboard and PROBLEM TESTS in Cengage. Homework Exercises and Problems: Homework assignments will be given with each chapter and will be done through CengageNow2. I will be able to check your progress to see how you are doing. Don t get behind! 30% 25% ****Late homework will not be accepted. You will be able to check to calendar to see when assignments are due. Please contact me by phone or email to let me know if you are having problems. Class Participation and Attendance: (Discussion Board Points) 20% To receive points for class participation and attendance in this Blackboard class, students will be required to participate in group discussions in Blackboard. The instructor will post questions for each chapter, and in order to receive credit for the class participation and attendance, the student must post to the discussion. Further instructions will be posted to the Discussion Board Assignment Page. Be sure to post on time as the Discussion Board will close at that time. Total 100 Grading Scale 90 100% = A 80-89% = B 70-79% = C 60-69% = D Below 60%= F Revised August, 2016 Page 7
Martha Brothers Testing Policy Tests: Tests will be administered after each chapter for the period specified. Be sure to mark your calendar for test dates as make-up tests will not be available. A test schedule will be available on the homepage. Final Exam: Proctored Exam Student will make arrangements with the designated proctor for online testing on their home campus. No textbooks or notes will be allowed during the exam. The instructor will supply a study guide in order to guide students in preparing for this exam. Proctors: Proctor information for the UACC hope and Texarkana campuses is as follows: Students needing to set up exams at UACC Hope or Texarkana Campuses can do this online at: www.registerblast.com/uacch/exam Questions concerning testing at Hope Campus: Leigh Quillin, Director of Testing 870-722-8247 Leigh.quillin@uacch.edu Questions concerning testing at Texarkana Campus: Misty Hughes, Student Services Specialist 870-216-2906 Misty.hughes@uacch.edu Proctor information for UACCB is as follows: Walk-in only. No appointments. All exams given in Main Classroom Building (MCB) 224. *Students may begin exams any time within the daily testing time, but must finish by the end time shown. Photo ID required. For information regarding proctored exams contact Jo Stephens at jo.stephens@uaccb.edu Proctor information for PCCUA is as follows: Revised August, 2016 Page 8
Students needing to set up exams on the Helena campus can do so by emailing Michelle Waites at mwaites@pccua.edu Students needing to set up exams on the Stuttgart campus can do so by emailing Valerie Colvin at vcolvin@pccua.edu Students needing to set up exams on the DeWitt campus can do so by emailing Scarlet Lamb at slaster@pccua.edu *Students may begin exams any time within the daily testing time, but must finish by the end time shown. Photo ID required. Tests will be timed, and you will only be allowed to take the test one (1) time. If you skip or leave a question unanswered, you will not be able to return to that question so make sure you have answered each question before proceeding. *The instructor reserves the right to change this syllabus in order to meet the needs of the student Revised August, 2016 Page 9